Looney says shareholders and society have growing confidence in BP's direction
BP boss defends ‘bold’ net-zero transition strategy
Oil major on track to meet 2025 renewables target and will grow earnings from oil despite production cuts
BP chief executive Bernard Looney has defended the oil major’s “bold” transition strategy, saying shareholders and wider society have growing confidence in the direction the company is taking. BP has set an absolute emissions reduction target of reaching net zero on scope one, two, and three emissions by 2050, and has set an interim goal measured on an absolute basis for a 20pc reduction below 2016 levels by 2025. “Society broadly is very much in favour of what we are doing,” Looney told a Reuters energy transition event this week. “In many ways, society got us to where we got to with the decisions that we took. And therefore, I think in broad terms, society is very pleased, very encouraged
Also in this section
23 December 2025
Legislative reform in Germany sets the stage for commercial carbon capture and transport at a national level, while the UK has already seen financial close on major CCS clusters
15 December 2025
Net zero is not the problem for the UK’s power system. The real issue is with an outdated market design in desperate need of modernisation
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
